| Sourced From Bizjournals.com |
Competition is heating up in the carbon accounting software market.
Interest among investors and customers about global warming is pushing companies to take action to monitor energy use and emissions. And that has catalyzed a cluster of Bay Area companies, ranging from startups with A-list management teams to offshoots of enterprise software giants like Oracle Corp., to help companies track and manage their emissions and energy use.
Since May, 10 more U.S. companies have formed or come out of stealth mode. That brings the total of known carbon accounting software companies nationwide to 51, with at least half a dozen of those in the Bay Area.
All are chasing a market thats expected to explode. While only 300 companies worldwide have purchased carbon accounting software, that number is expected to quadruple in the next two years even if the United States does not create a market to trade greenhouse gas emissions credits, according to report by Groom Energy Solutions. In the absence of such a market, hopes of lowering energy bills through better information are driving carbon accounting forward.
But its clear the Bay Areas companies will face stiff competition, as companies across the globe clamor for a piece of the carbon accounting action.